Question
Mr. X deposits ₹10,000 at a simple interest rate of 8%
per annum for 4 years. After 2 years, he invests an additional ₹12,000 at the same rate for 3 years in a separate plan. What is the difference in the interest earned from the two deposits?Solution
Difference between interest earned = 3200 - 2880 = 320
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